IPH buys patent law firm Pizzeys

IPH will pay more than $73 million to acquire intellectual property firm Pizzeys Patent and Trade Mark by way of cash and shares.

Intellectual property services firm IPH Ltd will acquire Pizzeys Patent and Trade Mark for $73.6 million, with an additional payment of $13.3 million subject to full year 2016 earnings.

IPH said will pay half the consideration in cash, and the balance through issue of its shares at $5.41 each.

Pizzeys, which has offices in Brisbane and Canberra, provides intellectual property services for corporate clients. It has forecast earnings before interest and tax of $11 million for the 2015/16 financial year.